Bard Financial Services Inc. acquired a new stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,080 shares of the company’s stock, valued at approximately $771,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LHX. Longview Partners Guernsey LTD acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $864,584,000. Norges Bank acquired a new stake in shares of L3Harris Technologies during the 4th quarter worth approximately $372,443,000. Janus Henderson Group PLC raised its position in shares of L3Harris Technologies by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock worth $1,569,118,000 after purchasing an additional 1,704,250 shares during the period. Truist Financial Corp raised its position in shares of L3Harris Technologies by 233.1% during the 4th quarter. Truist Financial Corp now owns 527,705 shares of the company’s stock worth $99,747,000 after purchasing an additional 369,299 shares during the period. Finally, State of Wisconsin Investment Board raised its position in shares of L3Harris Technologies by 156.7% during the 4th quarter. State of Wisconsin Investment Board now owns 588,443 shares of the company’s stock worth $111,227,000 after purchasing an additional 359,224 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.
A number of brokerages have recently weighed in on LHX. JPMorgan Chase & Co. cut L3Harris Technologies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $220.00 to $215.00 in a research report on Tuesday, December 15th. Robert W. Baird cut L3Harris Technologies from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $242.00 to $210.00 in a research report on Thursday, January 7th. Cowen reiterated a “buy” rating and set a $210.00 price target on shares of L3Harris Technologies in a research report on Friday, February 5th. Susquehanna Bancshares initiated coverage on L3Harris Technologies in a research report on Monday, December 14th. They issued a “positive” rating and a $230.00 target price on the stock. Finally, Credit Suisse Group lowered their target price on L3Harris Technologies from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Monday, February 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $225.80.
L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 28th. The company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.05. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.89 billion. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the company posted $2.85 EPS. On average, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 12th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, March 11th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $0.85. This represents a $4.08 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 40.48%.
L3Harris Technologies Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.
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